CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Can the DAX bulls prevent another sell-off?

DAX Xetra (cash index)

There is a lack of conviction in moves across equity markets as traders remain without the crutch of Wall Street in the early part of today’s session.

However, there is still a sense that near term recoveries on DAX remain a chance to sell.

There is a mini trend lower over the past week or so, and the early rebound back to the overhead supply around 11,230 is a confluence with this trend lower.

Momentum indicators give a mixed picture for the DAX right now, but the medium term negative bias continues to suggest that intraday rallies will struggle.

  • There is initial support in the past few days around 11,115 which comes in above the key low this week at 11,009.
  • However, rallies are still likely to fail around the 11,230 pivot area with Wednesday’s high at 11,258 worth watching especially on a closing basis.

 

Richard Perry

Richard Perry

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